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There May be More Tax to Pay on Your Dividends in January

The rules for taxing dividends changed radically from 6 April 2016 with the removal of the 10% notional tax credit and the introduction of new rates of tax on dividends. For many taxpayers there will be more tax to pay on those dividends on 31 January 2018.

When is a Company Van Not a Van?

The P11d benefits on company vans are generally much lower than company cars and where private use of the van is merely incidental to its business use by the employee, then there is no taxable benefit at all. But when is a van not a van?

In a recent tax tribunal case, the judge agreed that a VW Kombi van that had been converted so that it had two rows of seats for passengers was a company car not a van.

Reclaiming Foreign VAT on Expenses

If your business has suffered VAT on expenses incurred in another EU country, for example overseas hotel and restaurant bills, then it is possible to reclaim the foreign VAT. 

The foreign VAT must not however be reclaimed on the UK VAT return but by using HMRC 's VAT online services system.

The foreign VAT refund claims can be made either quarterly or annually but there is a de-minimis amount that may be reclaimed quarterly. 

Must Own 5% of Ordinary Shares to Qualify for CGT Entrepreneurs Relief

In order for a shareholder to qualify for CGT entrepreneurs relief on the disposal of their shares, they must be an officer or employee of the company (or group) and hold 5% or more of the company's ordinary share capital and voting rights for 12 months prior to the disposal. The company must also be a trading company or the holding company of a trading group throughout the same 12 month period.

Advisory Fuel Rates for Company Cars from September 2017

These are the suggested reimbursement rates for employees' private mileage using their company car from 1 September 2017.

Where there has been a change the previous rate is shown in brackets.

Are Spouses Wages Fully Deductible?

HMRC have recently won a tax tribunal case where they were seeking to challenge the deduction for a wife’s wages in arriving at the profits of her husband’s business. The judge agreed with HMRC that the amount allowed as a deduction should be limited based on the hours spent and appropriate rate for the work done.

Managing Customer Experience

When we have positive interaction with a business we feel good about it and will probably tell friends or colleagues about the experience. So how do you go about managing customer experience in your business so clients are raving to their friends about you and your company? 

VAT Registration Numbers on Email

With the advancement and excessive ease of technology over the years, many businesses have taken to sending their sales invoices to customers electronically, rather than in paper form. This has many benefits. 

  • It’s Faster! 
  • It’s Safer! 
  • It’s Environmentally Friendly! 
  • Its Cheaper! 

However, it could lead to some difficulties…

Healthier People = More Productive People

For a number of years, businesses have invested more and more in health and wellbeing initiatives. Large international businesses tend to have the resources to put such initiatives in place, but smaller firms can also introduce positive measures without spending a fortune. 

Blogging as a Marketing Tool

When you think of social media, the first platforms that come to mind are probably Linkedin, Facebook and Twitter. 

Have you ever considered using a blog as a social media marketing tool? Blogs can help drive traffic to your website, help search engines to find your company and can enhance recognition of your brand.

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